Kaia: Partnering with Line and Kakao to Build Asia's Largest Web3 Ecosystem

On August 29, 2024, the Kaia blockchain mainnet, jointly created by South Korea's Kakao and Japan's LINE, officially launched. This marks the completion of the merger of the two major Asian internet giants' blockchain projects Klaytn and Finschia, officially kicking off the plan to build Asia's largest Web3 ecosystem.

Sam Seo, the chairman of the Kaia Foundation, holds a Ph.D. in high-performance computing and previously served as CKO at KrustUniverse, leading the development and operation of Klaytn. Kakao and LINE provide strong support for Kaia, with both companies having a large user base in regions such as South Korea, Japan, Taiwan, and Thailand, giving Kaia a potential user base of over 250 million.

Kakao Talk is one of the most popular instant messaging applications in South Korea, with nearly 49 million monthly active users in the third quarter of 2024. Klaytn's total transaction volume has reached $376 billion, and there are over 29 million Web3 wallet users. LINE covers 70% of the Japanese population and also holds a dominant position in markets like Thailand and Taiwan. Finschia has more than 5.6 million Web3 wallet users.

Kaia's native token KAIA is used to pay transaction fees, and KAIA tokens are automatically issued with each new block, with an initial annual inflation rate of 5.2%. The Kaia Governance Committee consists of 31 trusted early members, including top institutions such as Kakao, Binance, and Google Cloud.

In terms of technology, Kaia adopts an optimized version of the Istanbul BFT consensus algorithm, supporting 4000 transactions per second, with a 1-second block generation and confirmation time. The Kaia virtual machine (KVM) is compatible with Ethereum and supports Solidity contract development.

Kaia is rapidly building an ecosystem covering multiple fields such as DeFi, payments, and AI. In the DeFi sector, DEXs like DragonSwap and CapybaraExchange have already launched. In the payments sector, a partnership has been established with Alchemy Pay. In the AI field, projects like FlareAI have joined.

The most notable is the Mini DApps program launched by Kaia in collaboration with LINE. The first batch of 20 Mini DApps has been confirmed to go live on the LINE platform, covering multiple fields such as gaming, social, and health, and is expected to bring a large number of users to Kaia.

Kaia has also launched multiple ecological support programs, such as the Kaia Wave Maker Program and Kaia Grants, to provide funding and resource support for ecological projects.

Overall, Kaia is rapidly building the largest Web3 ecosystem in Asia with the strong support of Kakao and LINE. Its unique positioning in the East Asian market, large user base, robust technological framework, and rich ecological layout make Kaia poised to become an important player in the global blockchain industry.